Crypto Market Rallies, Near Protocol Breaks Out of Cup-And-Handle Pattern

The crypto market is experiencing a strong rally, with most tokens in the green and the valuation reaching $2.76 trillion.

Despite interest rate hikes from the Federal Reserve and Bank of Japan, as well as elevated crude oil prices, the market continues to rise.

One top performer is Near Protocol (NEAR), which has jumped above its key resistance level of $3.08 and broken out of a cup-and-handle pattern.

This pattern suggests that NEAR will continue to gain momentum, but the Relative Strength Index (RSI) indicates that it may be overbought, with a risk of retracement before resuming the upward trend.

Venice Token (VVV), another top project, has also been in a strong rally this year and is hovering around its all-time high of $29.30.

The token remains above its key resistance level of $21.48 and has formed a break-and-retest pattern, indicating an upward path with the next target being at $35.

HYPE (Hyperliquid) price has also been rising after President Donald Trump signaled his support for its entry into the United States, as well as the Securities and Exchange Commission's support for tokenization of stocks in the US.